2012 California Codes
FIN - Financial Code
DIVISION 20 - CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT [50000 - 50706]
CHAPTER 9 - Brokerage Services for Borrowers
Section 50702
(a) The annual report required by Section 50401(a) shall include both of the following:
(1) The number and the aggregate principal amount of closed residential mortgage loans secured by residential real estate in which the licensee provides brokerage services, as defined in this chapter.
(2) The number and aggregate principal amount of residential mortgage loans made by the licensee under this division.
(b) The sum total of the aggregate principal loan amounts reported in paragraphs (1) and (2) of subdivision (a) shall be deemed the aggregate principal amount of mortgage loans secured by residential real property originated by the licensee, for purposes of determining a licensee’s annual assessment under subdivision (a) of Section 50401.
(c) The commissioner shall provide copies of the annual reports required by subdivision (a) of Section 50401 to the Department of Real Estate upon request of the Real Estate Commissioner.
(Added by Stats. 1996, Ch. 19, Sec. 1. Effective March 20, 1996.)
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